Interfuel substitution possibilities: short-term prospects

Noel D. Uri

Applied Energy, 1978, vol. 4, issue 4, 260 pages

Abstract: This paper applies a translog price possibility frontier in order to measure the extent of interfuel substitution effects in the electric power industry in the United States. The results suggest that relative changes in fuel prices have significant effects on fossil fuel consumption. This, in turn, has important implications for public policy. In particular, the market system appears better able to deal with exogenous shifts in energy supplies than has frequently been assumed in the formulation of public policies with respect to the energy crisis.

Date: 1978
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